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Nov 1, 2012 3:00pm EDT
still see things being somewhat defensive. i don't see anybody taking a highly leveraged position in stocks quite yet. >> and in terms of your base at wealth management at mohr dan stanley, are you seeing risk adversity or wanting them to get risk on trading? >> much more of the former. risk adversity. people wanting to stay defensive. they don't feel we have come out of the woods yet. the corporate confidence is low. consumer confidence has been building. auto sales -- our next number expecting 15 million annualized. people are buying things, but it's expected to be a much lighter retail sales number for the end of the year through the holidays. so you want to stay -- i agree with art. you want to stay with your dividend payers, your drug stocks. you want your johnson & johnson. you want your pfizer. you want your cokes, pepsis, colgates and these great technology companies. >> steve, do you think there's a sandy play to be had here at all in stocks whether it's energy, materials, retailers? i mean, pick your sector, if you think it's going to be affected. >> well, i think there
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